OSLO, NORWAY: Akobo Minerals AB has appointed SpareBank 1 Markets AS to advise on project financing for the company’s boutique gold mining operation for the Segele deposit in Ethiopia.
As monetary adviser, SpareBank 1 Markets AS (the Manager) will work closely with Akobo Minerals to discover related funding alternatives such as equity, financial institution debt and offtake agreements, together with different strategic choices that can be found to the Company so as to conduct and execute financing for the project.
Construction of the small-scale plant project will commence as quickly as financing is in place, with preliminary manufacturing start-up – and gold producing operations – anticipated earlier than the finish of 2022.
Akobo Minerals CEO, Jørgen Evjen, stated: “The announcement of our partnership with SpareBank 1 Markets AS to hunt new additional funding for the corporate is a main subsequent step within the event of our mining operation towards pouring of first gold by the finish of the year.”
“Our exploration team has been profitable in discovering extra gold at greater depths as our project has developed. We have additionally secured long-term licenses and relationships with native and nationwide authorities, in addition to establishing a significant collaboration with Oromia Bank to develop new mining ventures in Ethiopia.”
Evjen concluded: “We are proud to have met all of our scheduled strategic milestones since the corporate went public on the Euronext Growth Oslo in June 2021, the newest of which was the laying of the basis stone for our mine in early March 2022.”
www.akobominerals.com.